Glóin and his son Gimli were sent by Dáin II Ironfoot to warn Bilbo about a messenger from Mordor who appeared at the gate of Erebor, and asked for information of the One Ring. As king Brand of Dale was also encountered, Dáin decided to send messengers to Rivendell. They also came to seek news of what happened to Balin's Colony, which entered Moria thirty years before.

At the Council, Gandalf, Elrond and Bilbo told the history of the Ring to all. At hearing the potential of "Isildur's Bane", Boromir opted to use the Ring to defend his native Gondor, and overthrow Sauron, its creator. Gandalf and Elrond were against it, and stated that the Ring was the essence of Sauron, and thus would corrupt and ultimately destroy whoever tried to use it. Eventually Gandalf felt it necessary to employ shock tactics by reciting the Ring Verse in Black Speech, angering Elrond in the process.

The fate of the Ring was considered. The Ring was indestructible as it could be unmade only where it was created, in the Crack of Doom in Mount Doom, and several solutions were proposed. It was suggested to give it to Tom Bombadil who could not be corrupted, or to send it to Valinor under the guardianship of the Valar and the High Elves. But it was deemed that the Ring could not be hidden or disposed, as it would remain dangerous for the generations to come.

Eventually it was decided that the only way to be free of Sauron and the Ring was to cast the Ring where it was made.

It then became necessary to decide who should take responsibility for such a perilous undertaking. Bilbo offered to finish the job he had started, but Gandalf told him he could not take back the Ring due to having possessed it for some time. Eventually Frodo surprised everyone including himself by telling them he would take the Ring. After some thought Elrond agreed. At this point Sam emerged from hiding and demanded to accompany Frodo, and since it was hardly possible to separate them Elrond agreed.[2]

Who would further accompany the "Company of the Ring" was the subject of some debate for the following two months, although it was clear that Gandalf, Aragorn, Boromir, Gimli and Legolas would join them. Elrond opted for two more; "Nine walkers" would counter the "Nine Riders". He originally intended to send two of his household, such as Glorfindel, but Gandalf opted to include Merry and Pippin instead, as he deemed friendship and loyalty more important than strength.[3]

The attendants are described as being "summoned", and in the extended edition of The Two Towers, it is explicitly stated that the Council was called because the Ring was found; Boromir was ordered by his father to claim it. This is in contrast to the original text, where fate seems to bring them together.

The process of the council is significantly shortened. There are no or minimal references to the history of the Second Age, the Rings of Power, the current War, the politics of the races and the characters' backgrounds. The only characters who speak are the protagonists who will later form the Company of the Ring. Unrelated characters (such as Bilbo, Erestor or Glóin) are absent or don't speak at all. According to Decipher cards, some of the non-speaking participants are tradesmen from Dale and Lake-town. Figwit is also present.

The brief council is shadowed by sudden chaos and arguing over who would take the responsibility of the Ring. It is seen that the fight is inflamed by the Ring's evil influence as it sits in the middle of the court. Gandalf puts an end by reciting the Ring Verse, darkening the area and quieting everyone shouting.

The composition of the Company of the Ring was decided at the council. Sam was not the only one eavesdropping; Merry and Pippin were with him doing the same.

Only Elrond, Legolas, Gimli, Boromir, Aragorn, Gandalf and Frodo are mentioned, though the other three Hobbits are also present. The first seven are quickly chosen, but as Elrond tells of two great warriors, Merry and Pippin barge in.